SecurityCronos Resumes Operations After $74M Tectonic Platform Attack
The Cronos blockchain, affiliated with Crypto.com, temporarily halted operations following a major attack on the decentralized lending platform Tectonic. The attacker artificially inflated the TONIC token’s price 100-fold within 20 minutes, using it as collateral to borrow $74 million in assets. While most funds remained locked in the network, approximately $6 million in Ethereum was withdrawn. Cronos froze transactions, restored the blockchain to its pre-attack state, and resumed operations after security checks.
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